Colorado Estate Planning Lawyer
Caring Guidance from Solutions Based Family Law
End-of-life planning can be an overwhelming process. Our attorneys know how important it is to take control of what happens to your assets after you are gone and have the experience that is needed to help you navigate this process. If you or a loved one requires assistance with end-of-life planning or litigation support, our Centennial-based estate planning attorneys are here to help you.
We offer a complete range of estate planning services, including:
- Wills & trusts
- Powers of Attorneys
- End of Life Directives
- Probate Litigation Support
- Common Law Marriage Issues in a Probate Matter (Elective Share Litigation)
If you do not have an estate plan in place, your assets will be distributed according to state law. This may not be what you want, and it may not be in the best interests of your loved ones. The attorneys at Solutions Based Family Law can help you create an estate plan that meets your needs and ensures that your wishes are carried out.
For individualized representation from experienced attorneys, contact our law firm online or call our office at (720) 463-2232.
Where to Begin with Estate Planning
Estate planning is crucial in securing your legacy and ensuring that your loved ones are provided for after you pass away. It involves taking a comprehensive approach to organizing your assets and deciding how they will be distributed. This includes everything from your personal belongings to any property you own, investments, and even digital assets. The process of estate planning can also involve selecting a guardian for your children, setting up trusts, and designating beneficiaries for your retirement accounts.
There are many different aspects to estate planning, including:
- Wills: A will is a legal document that states how you want your assets to be distributed after you die. This is frequently the first step people take when estate planning.
- Trusts: A trust is a legal entity that can be used to hold assets and manage them according to your wishes. There are several types of trusts, including revocable, special needs, and charitable trusts.
- Powers of attorney: A power of attorney is a legal document that gives someone else the authority to make decisions on your behalf if you become incapacitated.
- End-of-life directives: An end-of-life directive is a legal document that outlines your wishes for medical care in the event that you become incapacitated. It is important to have an end-of-life directive so that your doctors know your wishes and can make decisions about your care that are consistent with your wishes.
Getting started with estate planning may seem daunting, but it doesn't have to be. The first step is to gather all relevant documents, including wills, trusts, and insurance policies. We then encourage you to consult with an estate planning attorney or financial advisor to ensure your plan is comprehensive and legally sound. By taking the time to complete a comprehensive estate plan, you can rest easy knowing that your wishes will be honored and your loved ones will be taken care of in the event of your passing.
Experienced Probate Assistance
Probate is the legal process of settling a person's estate after they pass away. In Colorado, probate involves filing a petition with the court, appointing a personal representative, identifying the deceased person's assets, paying any outstanding debts or taxes, and distributing the remaining assets to heirs and beneficiaries. It can be a complicated and lengthy process, often taking up to a year or more.
To ensure everything is done correctly and efficiently, it is strongly recommended to consult with an attorney who is highly experienced in probate law, especially if you have been designated as an executor or personal representative. This will help avoid potential legal issues and minimize the stress of managing a loved one's estate after their passing.
The responsibilities of an executor or personal representative may include:
- Filing a petition to open probate with the appropriate court
- Notifying beneficiaries and creditors of the deceased's passing
- Collecting and safeguarding the deceased's assets during probate
- Obtaining a valuation of all assets and debts of the deceased
- Paying all outstanding debts and taxes owed by the deceased and the estate
- Distributing assets to beneficiaries according to the deceased's will or the laws of Colorado
- Keeping accurate records of all financial transactions and filings
- Representing the estate in legal proceedings if necessary
- Making sure the deceased's property is maintained until it can be distributed
- Closing the probate estate and filing the necessary paperwork with the court
If a person dies without a will, they are said to have died intestate. This means that their estate will be distributed according to the state's intestate succession laws, which prioritizes spouses, children, and other close relatives. An attorney can guide you through the probate process and help ensure your loved one's wishes and best interests are respected.
Reliable Legal Advice from Trusted Attorneys
The importance of estate planning cannot be overstated. Without a clear plan, your assets may end up being distributed differently than you intended, which can lead to legal disputes and unnecessary stress for your loved ones. Additionally, estate planning can help reduce the tax burden on your heirs and minimize the potential for creditor claims.
At Solutions Based Family Law, we understand that end-of-life planning is a delicate matter that requires sensitivity and compassion. We are ready to work with you every step of the way to help you ensure that your or your loved one’s wishes are fulfilled and respected. Do not hesitate to reach out to us if you need help with any aspect of estate planning and/or probate. We are here to assist you in every way possible and make the legal process as seamless as possible.
From end-of-life planning to probate litigation, the Solutions Based Family Law team is here for you. Schedule a confidential consultation online or call (720) 463-2232.